India's Billionaire Boom Continues: Wealth on Hurun India List Swells by 28% to Reach a Record High

MUMBAI, India – India’s wealth creation engine is firing on all cylinders, with the cumulative wealth of the country's richest individuals soaring by a staggering 28% over the past year to reach a record ₹150 lakh crore (approximately $1.8 trillion). This was the headline finding from the Avendus Wealth Hurun India Rich List 2025, unveiled today, which underscores the nation's resilient economic growth despite global headwinds.

The report, which tracks the fortunes of the wealthiest self-made and inherited entrepreneurs in India, paints a picture of broad-based growth, driven by a bullish stock market and the rapid expansion of key sectors like technology, renewable energy, and infrastructure.

Key Highlights from the 2025 Report:

• Total Wealth: The 1,150 individuals on the list now command a collective fortune of ₹150 lakh crore.
• Record Growth: The 28% year-on-year increase in cumulative wealth is one of the highest jumps recorded in the last five years.
• New Entrants: The list welcomed 188 new faces, indicating a dynamic and expanding entrepreneurial landscape.
• The Billionaire Club: India is now home to a record 275 USD billionaires, an increase of 21 from the previous year.

Wealth Concentration Intensifies

While the number of wealthy individuals is growing, the report also highlights a growing concentration of wealth at the top. The top 10 individuals on the list collectively hold ₹52.5 lakh crore, accounting for a substantial 35% of the total wealth. This figure is up from 32% last year, suggesting that the wealthiest are accumulating riches at a faster pace than the rest on the list.

Drivers of the Boom

The report attributes this phenomenal wealth surge to several factors. A buoyant Indian stock market, which saw benchmark indices gain over 30%, was a primary driver. Sector-wise, technology—particularly AI and SaaS—contributed the most new entrants. This was followed by renewable energy, supported by massive government and private investment, and traditional powerhouses like pharmaceuticals and manufacturing, which benefited from strong domestic demand and export growth.

"What we're witnessing is not just wealth creation, but its diversification," said Anas Rahman Junaid, MD and Chief Researcher of Hurun India. "While established industries continue to thrive, the real story is the explosion of wealth from new-economy sectors. We are seeing founders in fields like SpaceTech, EV ecosystems, and climate tech entering the list for the first time. The entrepreneurial spirit is reaching every corner of India."

Gaurav Kumar, Co-founder of Avendus Wealth, commented on the financial climate, stating, "This boom is underpinned by strong fundamentals: robust domestic consumption, a stable policy environment including production-linked incentives, and a mature private equity and venture capital ecosystem. India is no longer just a consumption story; it's a creation and innovation story, and that is attracting significant global capital, further fueling this growth cycle."

The Hurun India List 2025 solidifies the nation's position as a premier hub for wealth creation, though it also implicitly raises questions about the widening gap between the ultra-rich and the rest of the population.